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The CBD industry has come a long way in the last decade and has completely revolutionized how people think of hemp-based products. It has become common to find CBD oil in Australia for sale online, in pharmacies, and in other stores.
It isn’t easy to pinpoint precisely what set the wheels in motion and led to the current CBD industry.
Some people argue that the passing of the Farm Bill in 2018 was the beginning of change within the CBD industry. While the Farm Bill was a USA-based piece of legislation, it had tremendous effects on the hemp industry worldwide.
However, others argue that while the Farm Bill was a factor, the changes within the CBD industry are due to technological advances. Technology has changed everything, from how hemp plants are grown to how customers are learning about CBD and accessing products.
Technology in the CBD Industry
So, what is the relationship between CBD and technologies, and how is the industry changing as a result?
Advances in Plant DNA Technology
Many people do not realize that hundreds of hemp plant strains exist and that some are better than others for making CBD products. For example, some strains have a higher ratio of CBD to other cannabinoids.
The problem for CBD manufacturers is that it is not as simple as just choosing to use the most optimal hemp plant strain in their products. There are several factors to consider, and in many cases, the very best plants with the highest CBD ratio are the most challenging and expensive to source.
Advances in DNA technology have made it much easier to source plants rich in CBD, easy to grow, and produce a high yield. Hemp growers can now select features from a range of strains and use them to create a plant strain suited to the particular climate and yield requirements.
Better access to high-yield, potent hemp plants has meant that CBD manufacturers can source CBD at a lower price and on a larger scale. These changes are reflected in the CBD industry in several ways.
Firstly, CBD products can be sold at a more affordable price, making the idea of taking CBD supplements much more accessible to a broader range of people.
Secondly, it is now much easier for new CBD brands to establish themselves within the industry. While the start-up costs are still high, they are slightly reduced due to the wide availability of hemp.
Advances in Growing Techniques
One of the other significant reasons for the high price of CBD products in the past has been caused by the cost of growing high-quality plants.
In order to grow high-yielding and potent hemp plants, a particular climate and soil type are required. This is why certain areas of the world are known for producing the best hemp plants for CBD products.
Hemp plants have always been costly to grow, and this has been reflected in the price and accessibility of CBD products. Advances in LED grow lights, and artificial climate control have meant that hemp plants can now be grown in labs allowing them to be grown almost anywhere in the world.
Indoor hemp farms use technology worldwide to recreate an optimal growing space for hemp plants to thrive. As a result, it has become much easier and cheaper for CBD manufacturers to source plants that can be used in their products.
Advances in Media and CBD Accessibility
For the consumer, the internet and a change in the way that people shop has been one of the most significant changes within the CBD industry. It is now much easier for individuals to learn about CBD and explore all of the available products.
The idea of using CBD as a health supplement or treating ailments like chronic pain is not new. However, until recently, very little information was available about CBD and its many benefits. Finding CBD products outside of natural health food stores was also tricky.
The internet has played an enormous role in changing the CBD industry. There is a wealth of information online for individuals to learn about CBD and the best ways to use it. Brands are increasingly focusing their marketing attention on social media, helping to raise awareness and get people interested in the world of CBD.
The internet has also changed the way people shop; it is now extremely common for people to purchase CBD products online. Rather than customers being limited to a few stores at most within their local area, it is now possible to browse CBD products from across the world with just a few clicks.
